Tickmill's Investing Diva, USDCHF Daily Outlook 28-02-20
USDCHF Daily Outlook - On Thursday we found out that the US fourth-quarter economic growth unrevised at 2.1%,
US orders for durable goods slipped 0.2% in January, and oil dropped nearly 5%, breaking below $47 as the coronavirus-related collapse continues…
On Friday we’ll be looking at the German Unemployment Change, Canada’s GDP, and the US Trade Balance.
Today I’m looking at the USD/CHF pair which continued its sharp declines on Thursday and tested below the daily Ichimoku cloud. With the strength of the current bearish sentiment, we could expect the pair to revisit the 12-month lows of 0.9445 and 0.9232... especially if the coronavirus fear continues to push the USD lower.
These levels are our ultimate supports for USD/CHF for long-term investors in this ranging pair.
Do you think the USD/CHF will continue lower next week? Head over to the comments section and let me know!
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Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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